Navin Fluorine International Limited · NSE:NAVINFLUOR

Navin Fluorine International — Investor Presentation (April 2015)

30 slides from Navin Fluorine International's investor presentation, April 2015

1. Slide 1: Navin Fluorine International Limited Investor Presentation

   Navin Fluorine International Limited Investor Presentation April 2015

2. Slide 2: Safe Harbor

   Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Navin Fluorine International Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe

3. Slide 3: Navin Fluorine International Limited

   Navin Fluorine International Limited Building “India’s only plant with high pressure fluorination capabilities with Largest Integrated Specialty cGMP compliance” for CRAMS Business Fluorochemical Company in India Manufacturing plants Over 45 years of expertise strategically located in Handling Fluor

4. Slide 4: Fluorine Chemistry – A Growing Landscape

   Fluorine Chemistry – A Growing Landscape Global demand for Fluoro-chemicals in 2018 to reach 4.0 Millon MT , with CAGR of 4% per annum Pharmaceuticals Agriculture Electronics Steel Solar / Energy Aluminum White Goods Automotive Glass 4

5. Slide 5: Evolution of NFIL

   Evolution of NFIL 2013„ „2013  Focus on CRAMS & Specialty Chemical Segment to drive growth  CRAMS expansion at Dewas  Commenced CRAMS business in 2011  JV with Piramal Enterprises at Dahej  Acquisition of Manchester Organics Ltd. (MOL) in 2011  Fluorspar JV with GMDC & GFL „2000  Commenced Sp

6. Slide 6: Professional Management

   Professional Management Mr. H.A. Mafatlal – Chairman Professional Team …. Mr. Shekhar Khanolkar : Managing Director Chemical Engineer with Masters in Management studies and an alumni of Harvard Business School Spent more than 21 years in the Chemical industry with both Indian & Multinational Chemica

7. Slide 7: Business Units (BU) - Standalone

   Business Units (BU) - Standalone FY11 – Revenue % FY15 – Revenue % Commenced CRAMS business in 2011 CRAMS – 0% CRAMS – 6% Commenced Specialty Chemicals in Specialty Specialty 2000 Chemicals – 27% Chemicals –39% Inorganic Fluorides & Inorganic Inorganic Refrigerants are Fluorides – 18% Fluorides –19%

8. Slide 8: Refrigerants Inorganic Fluorides Sustainable and Stable BUs

   Refrigerants Inorganic Fluorides Sustainable and Stable BUs 8

9. Slide 9: Refrigerants: Growing Demand for Non-Emissive applications

   Refrigerants : Growing Demand for Non-Emissive applications Product User Distribution Export Offering Base Network Outreach  Pioneered  Used in Residential Air  Strong Distribution  Exports to South-East manufacturing of Conditioning Network of over 120 Asia, Middle East, Saudi refrigerant gases

10. Slide 10: Inorganic Fluorides: Growth from Exports

    Inorganic Fluorides : Growth from Exports Product User Distribution Export Offering Base Network Outreach  Portfolio includes 8-10  Oil & Gas Industry  Developed Strong  Growing exports products network in India  Stainless Steel  From near Zero to ~10%  One of the largest  Presence in all ma

11. Slide 11: BU Performance and Geographic Mix – FY15

    BU Performance Refrigerants Inorganic Fluorides CAGR +5% Revenue (Rs.Crs) CAGR +8% 195 194 113 105 176 98 99 161 154 77 FY11 FY12 FY13 FY14 FY15 FY11 FY12 FY13 FY14 FY15 Exports Geographic Mix – FY15 9% Exports 32% 68% Domestic 91% Domestic 11

12. Slide 12: Specialty Chemicals CRAMS Driving up Value

    Specialty Chemicals CRAMS Driving up Value 12

13. Slide 13: Specialty Chemicals: Growing product basket

    Specialty Chemicals : Growing product basket Product  Strong Portfolio of value added Specialty Fluoro intermediates Offering  Introduction of novel molecules to expand portfolio  Used by Pharma, Agchem, Petrochem industries User  Focus on deeper penetrating into existing users and Base particip

14. Slide 14: CRAMS: Scalable Growth through INNOVATION

    CRAMS : Scalable Growth through INNOVATION Strong R&D  Leveraging our proven skills in Developing Contract Fluorination Chemistry Manufacturing Base  State of the art R&D led by qualified and experienced  Setting up manufacturing facility chemistry teams of PhDs & Post for multi-ton batch size, a

15. Slide 15: Manchester Organics - In Perfect Synergy with CRAMS

    Manchester Organics - In Perfect Synergy with CRAMS  Established in 1996, Manchester Organic Ltd (MOL) has a strong legacy in fluorination and high pressure chemistry  Offer over 60 years of combined chemistry experience to customers  Specialist in fluorination technology, with expertise in gener

16. Slide 16: MOL Performance

    MOL Performance Revenue (Rs.Crs) PBT (Rs.Crs) +16% +76% 49 8 42 5 FY14 FY15 FY14 FY15 PAT (Rs.Crs) PAT Margin % + 434 bps +62% 15.39% 7 11.05% 5 FY14 FY15 FY14 FY15 16

17. Slide 17: BU Performance and Geographic Mix – FY15

    BU Performance Specialty Chemicals CRAMS* Revenue (Rs.Crs) CAGR +16% CAGR +49% 215 31 178 26 159 156 118 14 FY11 FY12 FY13 FY14 FY15 FY13 FY14 FY15 Domestic Geographic Mix – FY15 4% Exports 32% 68% Domestic 96% Exports 17 * CRAMS business generating revenue from FY13

18. Slide 18: JV with Piramal Enterprises

    JV with Piramal Enterprises  Entered into JV with Piramal Enterprises Ltd  51% - Piramal Enterprises Ltd  49% - Navin Fluorine International Ltd  To develop, manufacture & sell specialty Fluorochemicals for the healthcare segment  Initial investment - ~Rs. 120 Crs. Current estimates of investme

19. Slide 19: Clients across the Globe

    ? Clients across the Globe tieaeten cad? CLARIANT™ ay Bayer syngenta Cy) Bayer CropScience ~ SUN oo. : a eee “torneso t) Novartis LUPIN PHARMACEUTICALS, INC. AURC 2BINDC a itted to Healthier oF - Y Dr.Reppy's IPE. RESEARCH . HOPE Ea BLUE STAR NW ARVIND MArATLAL Grour

20. Slide 20: Key Strengths

    Key Strengths Fluorination Capabilities In-house R&D  Pioneered Manufacturing of  State-of-the-art R&D centre – Navin Refrigerant Gases in India Research Innovation Centre at Surat  Over 45 years of experience in  DSIR approved R&D Centre handling Fluorine  Supports in product addition &  Exte

21. Slide 21: Growth driven by Every Business Unit

    Growth driven by Every Business Unit CRAMS  Business progression from Contract research to contract manufacturing  Manufacturing facility to be operational from H1FY16 Specialty Chemicals  Introduction of new high value added molecules in portfolio  Entry into newer geographies Inorganic Fluorid

22. Slide 22: Financial Overview

    Responsible Care” Financial O verview Ne WIND MAFATLAL Grour

23. Slide 23: Standalone Profitability Statement

    Standalone Profitability Statement Rs. Crs. FY15 FY14 Change % Q4 FY15 Q4 FY14 YoY% Revenue 546 449 22% 146 124 17% Raw Material 272 212 74 61 Employee Expenses 61 48 15 12 Other Expenses 150 128 38 38 EBITDA 63 61 4% 18 13 38% EBITDA Margin 11.6% 13.5% 12.6% 10.7% Interest Expenses 3 5 - 2 Deprecia

24. Slide 24: Consolidated Profitability Statement

    Consolidated Profitability Statement Rs. Crs. FY15 FY14 Change % Revenue 592 486 22% Raw Material 289 228 Employee Expenses 74 59 Other Expenses 156 133 EBITDA 72 66 9.4% EBITDA Margin 12.2% 13.6% Interest Expenses 3 6 Depreciation 20 22 Operating PBT 49 39 26% Operating PBT Margin 8.24% 7.94% Other

25. Slide 25: Standalone Balance Sheet

    Standalone Balance Sheet Rs. Crs. Mar’15 Mar’14 Shareholder’s Fund Share capital 10 10 Reserves & Surplus 561 532 Non-current liabilities Long Term Borrowings 12 - Deferred Tax Liabilities (net) 32 33 Other non-current liabilities 26 27 Current liabilities Short term borrowings 33 57 Trade Payables

26. Slide 26: Consolidated Balance Sheet

    Consolidated Balance Sheet Rs. Crs. Mar’15 Mar’14 Shareholder’s Fund Share capital 10 10 Reserves & Surplus 578 546 Minority Interest 13 9 Non-current liabilities Long term borrowings 27 - Deferred Tax Liabilities (net) 32 33 Other non-current liabilities 28 28 Current liabilities Short term borrowi

27. Slide 27: Financial Indicators - Standalone

    Financial Indicators - Standalone Revenue (Rs.Crs) EBITDA (Rs.Crs) Management Commentary +22% +4%  CRAMS business is 546 61 63 progressing in line 449 with our expectation  Revenue growth driven by refrigerants, Specialty Chemicals & FY14 FY15 FY14 FY15 CRAMS business Operating PBT (Rs.Crs) Operat

28. Slide 28: Financial Indicators - Consolidated

    Financial Indicators - Consolidated Revenue (Rs.Crs) EBITDA (Rs.Crs) +22% +9% 592 72 66 486 FY14 FY15 FY14 FY15 Operating PBT (Rs.Crs) Operating PBT Margin % + 30 bps +26% 7.95% 8.24% 49 39 FY14 FY15 FY14 FY15 28

29. Slide 29: Dividend History

    Dividend History Dividend Per Share (Rs.) Consistent Dividend Payout  Continuous Dividend 15% 21% 32% 33% 31% 32% since last 10 years 75  Special Dividend of Rs. 60 per share in FY 12 16 16 15 15  Payout Ratio of more 14 than 30% in last 4 years  Declared Total dividend of Rs.16 per share in FY1

30. Slide 30: Contact

    Contact For further information, please contact: Company : Investor Relations Advisors : Navin Fluorine International Ltd. Strategic Growth Advisors Pvt. Ltd. CIN : L24110MH1998PLC115499 CIN : U74140MH2010PTC204285 Mr. Partha Roychowdhury Ms. Sanjita Ghosh / Mr. Shogun Jain Chief Financial Officer 0

Navin Fluorine International — Investor Presentation (April 2015) on 6ix